"A Study on the Establishment and Improvement Schemes of  the Standard Audit Hours System in South Korea"

Amidst the COVID-19 pandemic, this study examines changes in the audit quality and reliability of financial statements. It explores the impact of increased incentives for earnings management and heightened audit risk for auditors as well as the factors influencing these changes. The key findings include a significant decline in audit quality, measured by discretionary accruals, post COVID-19. However, cases in which auditors demonstrated increased effort compared to the past did not exhibit a decline in audit quality. Moreover, the manufacturing sector has experienced a consistent and notable decrease in audit quality, and companies engaged in overseas operations or with substantial inventory assets have also faced a significant decline. This study emphasizes the need for stakeholders to remain vigilant about financial information reliability during this period of external upheaval, and offers valuable insights for potential audit procedure improvements in similar future situations.

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"A Study on the Establishment and Improvement Schemes of the Standard Audit Hours System in South Korea"

Cited by 2 publications

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Effect of Internal Accounting Control System Audit on Accounting Quality under COVID-19*

Effect of Internal Accounting Control System Audit on Accounting Quality under COVID-19*

Factors Affecting Change in Audit Quality after COVID-19

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